Business Context and Reporting Period
This Form 6-K filing by Costamare Inc. (NYSE: CMRE) is dated April 12, 2011, covering the month of April 2011. The filing primarily serves to announce a quarterly dividend declaration for the quarter ended March 31, 2011. Costamare Inc. is a leading owner and provider of containerships for charter, operating a fleet of 53 vessels with a total capacity of 275,728 TEU.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, margin, debt, or liquidity figures for the period. The only quantifiable financial metric disclosed is the dividend declaration.
- Quarterly Dividend: $0.25 per share.
- Shares Outstanding: 60,300,000 as of April 11, 2011.
- Payment Date: May 12, 2011.
- Record Date: April 28, 2011.
Material Changes
The filing does not report material changes in financial performance compared to prior periods. It notes that this is the second quarterly dividend declared since the company commenced trading on the New York Stock Exchange.
Guidance, Outlook, and Management Commentary
Gregory Zikos, Chief Financial Officer, stated that the dividend aligns with the company's policy and is supported by contracted cash flows and a conservative capital structure. Management asserts the ability to pay a "safe dividend" without compromising growth plans, with a goal to increase dividend payments over time. The filing includes standard forward-looking statements regarding future results and references the "Risk Factors" section of the Annual Report on Form 20-F for details on uncertainties.
Investor Verification Checklist
- Verify the record date of April 28, 2011, to confirm eligibility for the $0.25 dividend.
- Confirm the payment date of May 12, 2011, for cash flow planning.
- Review the Annual Report on Form 20-F (File No. 001-34934) for detailed risk factors and historical financial data not included in this summary.
- Monitor future filings for updates on the company's growth strategy and debt financing terms mentioned as factors influencing future dividends.